VLCC to empower nearly 1 lakh people to open bank accounts

VLCC has already initiated discussions with banks to work out the mechanism through which the company may contribute to the success of the newly announced Pradhanmantri Jan-Dhan Yojana.

 

Explaining the rationale behind the step, VLCC Founder & Vice-Chairperson, Vandana Luthra said: “Financial inclusion lies at the very heart of promoting social equity and inclusive growth in the country. I am glad that the Honorable Prime Minister Shri Narendra Modi has brought focus on this critical issue. In the hope of providing further impetus to this pragmatic scheme, which seeks to encourage those who are less economically privileged to open bank accounts by incentivizing them through a life insurance cover, VLCC has decided to create a corpus to provide the bank account opening seed money to up to 100,000 people who open an account under this scheme.”

 

“VLCC’s decision to get involved with the Pradhanmantri Jan-Dhan Yojana initiative is in keeping with our philosophy of doing our bit for the development of the nation. VLCC is already deeply engaged with the cause of promoting skill development nationwide in line with the Honorable Prime Minister’s vision of achieving a Skilled India,” Luthra added.

 

In his Independence Day speech to the nation, Prime Minister Narendra Modi had said that he proposed to “connect the poorest citizens of the country with the facility of bank accounts” through the Pradhanmantri Jan-Dhan Yojana in order to utilize the country’s economic resources for the well-being of the economically needy.